Just so Californians don’t feel totally let down by their state and local governments, Illinois is also in fiscal hell.
According to Illinois Policy.org, Illinois’ interest on their pension funds is $9.1 billion per year. And with $130 billion in unfunded liablilities (versus $78 billion in assets), Illinois is running a perpetually underwater pension plan.
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And Illinois’ pension debt of $130 billion is being carried at a whopping 7% interest.
Can Illinois’ pension investments earn greater than 7% per annum?
Don’t worry Nancy. I have a good grasp on Illinois’ finances!!!
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